M/I Homes, Inc. $MHO Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its stake in M/I Homes, Inc. (NYSE:MHO) by 20.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 14,811 shares of the construction company’s stock after selling 3,872 shares during the period. Intech Investment Management LLC’s holdings in M/I Homes were worth $2,139,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vestmark Advisory Solutions Inc. acquired a new position in M/I Homes during the third quarter worth approximately $387,000. Semanteon Capital Management LP purchased a new stake in shares of M/I Homes during the 3rd quarter valued at $388,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of M/I Homes by 15.4% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,820 shares of the construction company’s stock worth $407,000 after buying an additional 377 shares during the period. NewEdge Wealth LLC boosted its holdings in M/I Homes by 22.5% in the third quarter. NewEdge Wealth LLC now owns 5,627 shares of the construction company’s stock valued at $813,000 after acquiring an additional 1,032 shares during the last quarter. Finally, Denali Advisors LLC acquired a new position in M/I Homes in the third quarter valued at $1,897,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Ratings Changes

MHO has been the topic of a number of research reports. Citizens Jmp initiated coverage on M/I Homes in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price objective on the stock. Zacks Research downgraded shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a report on Thursday, January 22nd. Oppenheimer set a $165.00 price objective on shares of M/I Homes in a research note on Friday, January 30th. Finally, Citigroup reissued a “market outperform” rating on shares of M/I Homes in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $161.67.

M/I Homes Stock Up 1.4%

Shares of NYSE:MHO opened at $144.22 on Thursday. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 9.80 and a beta of 1.77. The company has a 50 day moving average of $137.34 and a two-hundred day moving average of $137.68. M/I Homes, Inc. has a 52-week low of $100.22 and a 52-week high of $158.92. The company has a quick ratio of 1.86, a current ratio of 8.12 and a debt-to-equity ratio of 0.31.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.03. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.71 earnings per share. As a group, analysts forecast that M/I Homes, Inc. will post 18.44 earnings per share for the current fiscal year.

M/I Homes announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at M/I Homes

In related news, insider Susan E. Krohne sold 5,000 shares of the stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $134.28, for a total value of $671,400.00. Following the completion of the transaction, the insider owned 6,167 shares of the company’s stock, valued at approximately $828,104.76. This represents a 44.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Phillip G. Creek sold 8,616 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $146.80, for a total value of $1,264,828.80. Following the sale, the chief financial officer owned 45,815 shares of the company’s stock, valued at approximately $6,725,642. This trade represents a 15.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 49,213 shares of company stock valued at $7,115,268 in the last ninety days. Insiders own 3.50% of the company’s stock.

M/I Homes Profile

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.